Kospi opens lower as investor await U.S. jobs report

Finance

Kospi opens lower as investor await U.S. jobs report

Published: 06 Sep. 2024, 09:56

CHO YONG-JUN
cho.yongjun1@joongang.co.kr

A screen in Hana Bank's trading room in central Seoul shows the Kospi closing on Thursday. [YONHAP]

Shares opened slightly lower Friday ahead of the U.S. jobs report that may serve as another indicator of a possibly looming recession.

The benchmark Kospi shed 7.63 points, or 0.30 percent, to 2,567.87 in the first 15 minutes of trading.

The index has been on a steady decline since Tuesday when the United States reported a worse-than-expected manufacturing purchasing managers index.

The United States is set to release its latest jobs data Friday.

In Seoul, large caps traded mixed.

Samsung Electronics gained 0.29 percent, while SK hynix retreated 1.13 percent.

LG Energy Solution and Samsung SDS lost 1.59 percent and 0.69 percent, respectively. SK Telecom surged 1.92 percent.

Autos were in negative territory, with Hyundai Motor slipping 0.66 percent and Kia Motors falling 1.19 percent.

The local currency was trading at 1,332.90 won against the dollar, down 3.0 won from the previous session.

BY CHO YONG-JUN, YONHAP [cho.yongjun1@joongang.co.kr]